Home › Forums › Other › OT-What a loan modification with principal reduction really looks like › A friend of mine who is
A friend of mine who is trying to get a loan modification has related similar terms (but no principal reduction…yet).
Again, we are back to temporary “teaser” loans, though I’ll admit that the 4.75% cap is very generous to the borrower.
They should also stipulate that if the borrower decides to rent the place out, the lender should get every penny of the rental income.
